Local Market Updates
Median Sales Price of San Francisco vs Mission Bay
In 2023, San Francisco’s housing market experienced a decline of 6.7% in median home prices compared to 2022, with properties fetching a median price of $1.2 million. Conversely, in February 2024, Mission Bay witnessed a decrease of 10.3% in median home prices compared to the previous year, with homes selling for a median price of $803,000. Despite fluctuations in both markets, Mission Bay emerges as a more affordable alternative to San Francisco, offering a budget-friendly option for prospective buyers. This disparity is evident when comparing the median sales prices between the two areas, with San Francisco commanding higher prices due to its high demand and limited space. At the same time, Mission Bay presents a more accessible entry point into the housing market.
Days on Market of San Francisco vs Mission Bay
In San Francisco, homes typically sell within an average of 52 days, indicating a relatively swift turnover in the city’s competitive real estate market. Conversely, in Mission Bay, houses tend to linger on the market for a more extended period, with an average selling period of 106 days. These figures highlight the nuanced interplay of various factors, such as market conditions and neighborhood dynamics, that influence the duration of properties remaining available before finding buyers.
Percent of Original Price of San Francisco vs Mission Bay
The “Percent of Original Price” is a metric calculated by dividing the final sale price of a property by its most recent listing price.
In general, factors such as high demand, limited housing supply, and the desirability of a neighborhood can influence whether properties sell below or above their most recent listing listing price.